August 7, 2008
All the indices fell today, after increasing on each of the previous three days. The NASDAQ was the smallest loser, with a -.97 percent. The S&P500 decreases -1.79 percent, while the DJIA was off -1.91 percent.
A total of 64 trading days, since January 2000, share this pattern of -1/+3 but the average fall off on those days is less than minus one percent.
On the other hand, there have been seven such days in 2008, and their average decline has been between -1.04 and -1.29 percent.
In the past, on the next trading day, the DJIA and the NASDAQ had 36 plus days and 28 negative days; the S&P500 had 38 advances and only 26 declines.
As for the seven subsequent days this year, all three averages posted gains on five days, retreating on just two days.
DJIA -1.91 percent
NASDAQÂ… -.95 percent
S&P500 -1.79 percent